bussines news

The assets managed by the Public Enterprises Holding and Administration Agency have reached Birr 1.7 trillion. The organizations have achieved a profit of eight billion birr and created employment opportunities for 20,000 citizens. Habtamu Hailemichael, Director General of the Agency, highlighted that Birr 604 million from these profits have been allocated to social responsibility initiatives. …

Ethiopia: Public Enterprises’ Assets Soar to Birr 1.7 Trillion Read More »

In a ceremony attended by key stakeholders, Gelila Manufacturing, a local company, laid the foundation stone for its bus assembly plant at the Mekele Industrial Park in Mekele city, the capital of the Tigray region. The facility, which spans 31,000 square meters of leased land, will assemble various types of buses with an investment capital …

Ethiopia: Gelila Manufacturing Lays Foundation Stone for Bus Assembly Plant in Mekele Read More »

As part of the government’s high priority to expedite industrial development in Ethiopia, the manufacturing sector has been receiving loans in billions of Birr to expand their investment, Minister of Industry, Melaku Alebel revealed. The minister said the attention given to the ‘MadeInEthiopia’ Movement, both at the federal and regional state level has played a …

Manufacturing Sectors in Ethiopia Receiving Loans in Billions of Birr to Boost Investment Read More »

For several years now, promoting your brand or products on Telegram channels has been a common practice in the country. Channel owners set prices (often per post) based on their channels’ average estimated viewership or subscriber count. Telegram’s new ad platform offers an alternative, and we at Shega gave it a try. Here is the …

Telegram Ads 101: A Beginner’s Guide for Businesses in Ethiopia Read More »

Many Italian companies are ready to continue working in Russia but want to trade in euros, Italian-Russian Chamber of Commerce (IRCC) President Ferdinando Pelazzo told Sputnik. “Not all Italians are ready to accept payment in yuan or other currencies in Italy. Most Italian companies are ready to continue working if paid in euros. They also …

Many Italian Firms Want To Work In Russia Using Euros – Chamber Of Commerce Read More »

Prime Minister Abiy Ahmed met today with Marriott International President and CEO Anthony Capuano to discuss growing Ethiopia’s travel and hospitality sector, according to the Office of the Prime Minister. Ethiopia, known for its rich cultural and historical heritage as well as stunning landscapes, has been focused on expanding its tourism industry. Marriott International, a …

PM Abiy Holds Talks with Marriott Int’l President on Ethiopia’s Growing Hospitality Sector Read More »

 Ethiopia has taken a major leap forward in the 2023/24 fiscal year amid natural and man-made global and local challenges, according to Prime Minister Abiy Ahmed. The Prime Minister made this remark at the 36th regular session of the FDRE House of People’s Representatives on Thursday morning. In the regular session, the Prime Minister presented …

Ethiopia Has Taken A Major Leap Forward In Its Economic Dev’t – PM Abiy Ahmed Read More »

The Ethiopian Chamber of Commerce and Sectoral Associations (ECC) is gearing up for its 10th General Assembly on July 18th, 2024. ECC announced key agenda items for the conference. A major highlight will be the endorsement of Chambers of Commerce from four newly formed regions. The division of the Southern Nations region created independent Trade and …

Ethiopian Chamber of Commerce to Expand at Tenth General Assembly Read More »

House of Peoples’ Representatives passed a new Value Added Tax (VAT) Proclamation during its 36th regular session. Ato Desalegn Wedaje, Chair of the Standing Committee on Planning, Budget, and Finance, presented the proclamation alongside a report outlining its potential benefits. The report emphasized the proclamation’s role in promoting savings and investment. VAT will apply to the …

Ethiopia: Law Makers Approve VAT Proclamation Read More »

In a recent announcement, Minister of Tourism Nasise Chali revealed that the existing hotel star ratings would be retired by September 2024. This move comes in response to Regulation No. 173/2010, which mandates hotels to undergo re-classification every three years. The Ministry has already begun preparations for the reassessment process, encompassing hotels in Addis Ababa …

Ethiopia: Ministry Says New Hotel Star Rating System Will be in Place Read More »